Andhra Pradesh

Now loans for skill development training!

Students with necessary technical and soft skills are preferred by companies, says recruiting firms.  

Skill development training, which costs anywhere between Rs 20, 000 and Rs 50,000 for a typical engineering student, now comes along with loans which can be converted into easy monthly instalments (EMIs).

Notable dip in campus placement is making technical colleges add professional training through skill development institutes according to Mr. Santanu Paul, CEO, Talent Sprint, a skill development firm. The company, in association with a social enterprise, is facilitating loans for students aiming to be employable.

“Skill set is the focus for hiring corporates in the backdrop of over 80 percent of engineering and IT students lacking it. While some colleges foot the bill themselves, others make students pay the additional training fee. We have tied up with Milaap, a social enterprise, to aid wanting students fund their training,” Santanu said. Milaap had extended 150 short term loans to students taking skill development training at Talent Sprint, said Mayukh Choudhury, co-founder of Milaap Social Ventures. The social enterprise is funded by National Skill Development Council (NSDC) and individual funding agencies.

There was a remarkable shift in the hiring policies of the corporates which have reduced campus placements in a big way. Many companies are doing away with taking the burden of hiring freshers. Instead, students with necessary technical and soft skills are preferred by companies according to recruiting firms.

There are apparently three categories of technical institutions.

“Given the quality, top rung institutes have no issue of placement. There are other responsible colleges which pay training institutes to ensure skill set and 100 per cent placement. The problem is with a majority of technical colleges which are casual about the entire process,” Santanu said.

It was internal training by professors and alumni groups for noted technical institution CBIT in Hyderabad. “Our students get top notch training since the beginning of the curriculum. The result is seen in an average double placement of our students,” said Assistant Professor T. Aravind, CBIT.

For instance, The Kakinada Institute of Engineering and Technology (KIET) has roped in entities such as Career Analytics, TIME to add value. “These training modules are great value addition for students and they are result oriented. Finishing school training is a must for success in placement,” said Mr. Ramakrishna, placement officer, KIET.

According to an estimate, over 60 per cent of IT and ITES students are failing in the first screening of aptitude test. Close to 30 percent in the rest are not able to clear language and soft skills related screening.

As a matter of fact, the engineering colleges in Andhra Pradesh could not fill more than 50 per cent seats in 2013. Many colleges are up for sale. The situation is attributed to the lopsided regulatory structure, poor quality of teaching and infrastructure.

Unable to secure jobs in the trained stream, many engineering students are found to exploring jobs like bank clerks, police constables, VROs and other government positions.

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Printable version | May 15, 2021 11:03:16 AM | https://www.thehindu.com/news/national/andhra-pradesh/now-loans-for-skill-development-training/article5594176.ece

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